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WCC

WESCO International (WCC) reported Q4 adjusted EPS of $2.65, missing the $3.87 estimate, and sales of $5.47B, missing the $5.59B estimate. This represents a 35.84% decrease in EPS and a 1.53% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 11:03 am

LDOS

Leidos Holdings (NYSE:LDOS) reported Q4 adjusted EPS of $1.99, surpassing the $1.74 estimate, and sales of $3.98B, exceeding the $3.80B estimate. This represents an 8.74% increase in earnings and a 7.65% increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 11:02 am

CDNS

DASTF

NVDA

Cadence Design Systems Inc (NASDAQ:CDNS) reported Q4 FY23 results with revenue of $1.069 billion, surpassing consensus estimates. Adjusted EPS was $1.38, also above expectations. The company's year-end backlog was $6.0 billion, with $3.2 billion in current remaining performance obligations. However, its Q1 FY24 revenue outlook of $990 million-$1.01 billion and adjusted EPS of $1.10-$1.14 fell short of consensus estimates, leading to a 6.46% premarket drop in shares. Cadence also announced an expanded partnership with NVIDIA Corp (NASDAQ:NVDA) and Dassault Systèmes (OTC:DASTF).

Portfolio Pulse from Lekha Gupta

February 13, 2024 | 10:41 am

ANET

ARM

CDNS

GTES

GTHX

LSCC

NAAS

TDC

Arista Networks reported Q4 results with revenue of $1.54 billion, a 20.8% increase year-over-year, beating estimates. Earnings per share were $2.08, also above estimates. The company anticipates Q1 revenue between $1.52 billion and $1.56 billion with adjusted gross margins of about 62%. Shares fell 5.7% in pre-market trading. Other stocks like G1 Therapeutics, Teradata, Lattice Semiconductor, Cadence Design Systems, NaaS Technology, Gates Industrial, Arm Holdings, and Goodyear Tire also saw pre-market losses.

Portfolio Pulse from Avi Kapoor

February 13, 2024 | 10:29 am

BDRX

Biodexa Pharmaceuticals' stock surged 151% in premarket trading after Bigger Capital Fund disclosed a 9.9% stake in the company through a 13G filing on Monday.

Portfolio Pulse from Charles Gross

February 13, 2024 | 10:22 am

ARB

Arb IOT Group's stock surged 265% in premarket trading following a 13G filing on Monday, revealing that ARB Berhad has acquired a 28.38% stake in the company.

Portfolio Pulse from Charles Gross

February 13, 2024 | 10:19 am

AMZN

GOOG

GOOGL

NVDA

Nvidia CEO Jensen Huang, at the World Governments Summit in Dubai, emphasized the importance of countries developing their own 'Sovereign AI' to maintain control over their data. He highlighted Nvidia's central role in the AI revolution, which has seen its stock surge 50% since the beginning of 2024. Huang also predicted a significant increase in data center spending, expecting it to double to $2 trillion in the next 4-5 years, driven by the demand for 'Accelerated Computing' and Generative AI.

Portfolio Pulse from Rounak Jain

February 13, 2024 | 10:18 am

BTCUSD

ETHUSD

Founders Fund, led by Peter Thiel, has invested $200 million in cryptocurrencies, specifically Bitcoin and Ether, signaling a strong return to the crypto market despite its recent downturns. This move reflects a significant shift in the firm's investment strategy, especially after cashing out $1.8 billion from Bitcoin before the 2022 market crash. The investment comes amid fluctuating market conditions and varying opinions on the future of cryptocurrencies.

Portfolio Pulse from Benzinga Neuro

February 13, 2024 | 9:43 am

Coca-Cola (NYSE:KO) is anticipated to report higher Q4 earnings on Feb. 13, 2024, with expected earnings of 49 cents per share, up from 45 cents a year ago, and projected revenue of $10.68 billion, up from $10.2 billion. The company is also entering India's ready-to-drink tea market with 'Honest Tea'. Shares slightly fell by 0.1% to $59.55 recently. Analysts from Barclays, JP Morgan, Morgan Stanley, and B of A Securities have provided updated ratings and price targets for Coca-Cola.

Portfolio Pulse from Avi Kapoor

February 13, 2024 | 9:32 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares fell by 2.81% to close at $188.13, losing $17.33 billion in market capitalization, following a $1,000 price cut for the Model Y in the U.S. Analysts debated the impact, with Gary Black suggesting the market reaction was excessive compared to the estimated $65 million loss in profits for 2024. Conversely, Gordon Johnson provided a bearish view, calculating a $298 million impact from the price cut, justifying the stock's decline. The debate highlights differing perspectives on Tesla's short-term promotional strategy and its broader challenges.

Portfolio Pulse from Shanthi Rexaline

February 13, 2024 | 9:22 am